Kimisitu DT unveils new mortgage financing with enhanced borrowing capacity

The launch, held during the Nairobi Members' Education Forum, introduces a long-term mortgage financing solution designed to help members transition from renting to owning homes through affordable, flexible, and sustainable financing options. 

Through the partnership with KMRC, eligible members can access mortgage financing of up to Ksh.10.5 million, at an interest rate of 9% per annum, with repayment periods of up to 25 years and financing of up to 105% of the property value for the purchase or construction of residential homes. 

Speaking during the launch, Catherine Odhiambo, A.g. Chief Executive Officer of Kimisitu DT SACCO, said the financial product was a milestone for the SACCO. 

 "This is more than a new product, it is a demonstration of our commitment to making homeownership genuinely affordable for our members," said Odhiambo. 

The CEO added that the SACCO has also enhanced members' borrowing capacity through an industry-leading loan multiplier of up to seven times a member's deposits, enabling more members to qualify for higher-value mortgages while enjoying long repayment periods of up to 25 years. 

"Combined with financing of up to Ksh.10.5 million and up to 105% of the property value, these features make this one of the most competitive mortgage solutions available through the SACCO movement," she added.  The mortgage products are designed to meet the evolving needs of members seeking affordable housing finance while supporting Kenya's broader affordable housing agenda.

In addition to the product launch, members attending the Nairobi Members' Education Forum received financial literacy training and information on the mortgage application process, eligibility requirements, and the benefits of long-term housing finance.